Page 3335 - Business Finance
U.S. job growth strong; unemployment rate rises to 4.0 percent
WASHINGTON (Reuters) - U.S. job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases.
MSP hike could impact retail inflation by 73 bps: SBI report
The hike in minimum support price (MSP) of 14 summer crops can increase retail inflation by 73 basis points, depending upon the level of procurement, an SBI report said today. The government decision to hike the MSP of 14 kharif crops is a welcome step to address farmer distress in India, SBI said in its 'Ecowrap' report. The immediate fallout of the announcement is an inflation impact, it added. Various estimates placed inflation impact between 50-100 bps on Consumer Price Index (CPI), while fiscal impact would be in the range of 0.2 per cent to 0.4 per cent of GDP. "However we believe, such estimated inflation impact could just be a statistical artefact and will only transpire if there is procurement by Government," the SBI research report said. The report further said that it is well known that when the public agency starts procuring the crops at MSP, it ensures a convergence between market prices and MSP and thereby impacting inflation. "For the statistically minded, our estimate .
MARG transacts business items at Said EGM
On 06 July 2018
SoundLogic's voice-assistant to go on flash sale on Flipkart for Mahi's birthday
SoundLogic, one of the fastest growing brands in the audio and electronics industry, kicks-off its first-ever flash sale in the audio equipment category on Flipkart on July 7 from 12 noon onwards.To celebrate MS Dhoni's birthday, SoundLogic is giving away a personalised gift from the former captain along with the product via flash sale.SoundLogic is amongst the first voice assistant products to work on a Bluetooth technology making them platform and OS agnostic. The launched product will be available at an attractive point of Rs 1,299 onwards as it allows a much larger group of Indian audiences to have the first taste of smart audio devices."When I heard about the campaign, I immediately related to the idea of an audio product that helps you navigate your daily life. #JusBol is truly the new lifestyle we need to adapt to where you can just give voice commands to get your work done. SoundLogic's devices are one-of-a-kind. So I request you all to #JusBol," said Mahi.Commenting on the ...
India's Forex reserves deplete by $1.75 bn
India's foreign exchange (Forex) reserves depleted by $1.75 billion during the week ended June 29, official data showed on Friday.
Shalimar Paints to announce Quarterly Result
On 10 July 2018
Tata Steel's production rises 7.8%, sales up 8% in Jun qtr
Tata Steel today reported 7.82 per cent rise in domestic production at 3.17 million tonne and 8 per cent increase in sales at 2.97 mt in the June quarter. The production stood at 2.94 mt and sales at 2.75 mt in the same period last year, and at 3.07 mt and 3.03, respectively, in the March quarter this year. "Q1 FY19 production is higher than Q4 FY18 mainly due to better plant availability at Kalinganagar," the company said while announcing the provisional production and sales figures for the June quarter. Automotive and special products has achieved highest ever quarterly sales of 557 kilo tonne (kt) in Q1 FY19 due to stronger demand and new product approvals, a release said. Branded products and retail business has achieved highest ever Q1 sales of 975 kt, registering a year-on-year growth of 12 per cent, compared with 873 kt in Q1 FY18. Overall engineering segments have also registered 70 per cent growth with 97 kt sales in Q1 FY19, against 57 kt sales in Q1 FY18, it ...
PM's MSP increase is like band-aid for a haemorrhage: Rahul Gandhi
Congress President Rahul Gandhi today said Prime Minister Narendra Modi's "grand MSP increase" for farmers is like applying band-aid to a "massive haemorrhage". Terming it mere "marketing", he compared the MSP hike with the farm loan waiver of the Karnataka government. Gandhi described the Karnataka government's initiative an "action" that will help farmers to the tune of Rs 34,000 crore against Modi's Rs 15,000 crore budgeted for India's 120 million farmers. "PM's grand MSP increase is budgeted at just 15,000 crore for India's 120 million farmers; which is like applying a Band-Aid to a massive haemorrhage. "To put this MSP increase in perspective: in Karnataka, we've waived small farmer loans of over 34,000 crore! Marketing Vs Action," he said on Twitter. The Karnataka government yesterday announced a farm loan waiver of Rs 34,000 crore for farmers of the state. The Modi government had on Wednesday announced a Rs 200 hike in MSP for paddy.
Fuel prices have receded for a month, but at half the rate of surge
Although petrol and diesel prices receded in the past one month, the rate of decline in fuel prices was half the pace of the surge witnessed during May 14-29.
TCS shares gain nearly 2 pc, m-cap rises by Rs 12,099 cr
Shares of Tata Consultancy Services rose by nearly 2 per cent today, adding Rs 12,099.29 crore to its market valuation ahead of its June quarter results on Tuesday. The company's stock gained 1.68 per cent to settle at Rs 1,913.30 -- its lifetime high -- on the BSE. During the day, it rose by 2 per cent to Rs 1,920.30. On the NSE, shares of the company jumped 1.73 per cent to close at Rs 1,912.95. The company's market valuation surged Rs 12,099.29 crore to Rs 7,32,521.29 crore (USD 106 billion). In terms of equity volume, 2.11 lakh shares of the company were traded on the BSE and over 37 lakh shares changed hands on the NSE during the day.
GOCL Corp signs Lease Deed for project in Yelahanka,
On 06 July 2018
Spain's Cabify denies reports it may sell to U.S. peer Lyft
MADRID (Reuters) - Spanish ride-hailing app Cabify said on Friday it had held no talks over selling any part of its business, after newspaper El Confidencial said it was considering selling to U.S. peer Lyft.
CCI dismisses complaint against Tamil Nadu Civil Supplies
Fair trade regulator CCI has dismissed a complaint alleging abuse of dominance by Tamil Nadu Civil Supplies Corporation with regard to criteria for the bidders in the tender process for procurement of tur dal by the public sector firm. The complaint was filed by one Maharashtra-based Maheswari Agro Products, which is engaged in the business of supplying pulses, among others. According to a CCI order dated July 4, the complainant was primarily aggrieved by the conduct of Tamil Nadu Civil Supplies Corporation in modifying the pre-qualification criteria for bidders in the tender process for procurement of tur dal. The public sector company had allegedly changed the eligibility requirement in the tender process arbitrarily, which excluded many stakeholders from participating in it. For the case, the Competition Commission of India (CCI) considered the 'market for procurement of tur dal/ Canadian yellow lentil in India' as the relevant one. Noting that no "prima facie" case of ...
U.S. stock futures cut losses on strong job growth
(Reuters) - U.S. stock index futures pared losses to trade slightly higher on Friday after data showed U.S. job growth increased more than expected in June as manufacturers stepped up hiring, while steady wage gains pointed to moderate inflation pressures.
Engineering exports up 20% despite US-China trade war: EEPC
Indian engineering exports have grown by close to 20 per cent during the April-May 2018 period despite the US-China trade war, the Engineering Export Promotion Council of India (EEPC) said on Friday.
Gold, silver spurt on fresh buying
Gold prices recovered at the bullion market here today following fresh buying by stockists and investors even as the precious metal lost sheen overseas. Silver also rallied smartly on speculative offtake and firm industrial buying. Standard gold (99.5 purity) rose by Rs 45 to close at Rs 30,530 per 10 grams from Thursday's closing level of Rs 30,485. Pure gold (99.9 purity) also climbed by a similar margin to end at Rs 30,680 per 10 grams as compared to Rs 30,635 previously. Silver (.999 fineness) gained by Rs 75 per kg to finish at Rs 39,295 from Rs 39,220 yesterday. Globally, gold slipped ahead of key US payrolls data and as global equities stood firm, though the yellow metal was on course for slight gains for the week as the dollar drifts lower amid escalating US-China trade tensions. Spot gold was 0.3 per cent lower at USD 1,254.48 an ounce at early trade. Silver was flat at USD 15.98 an ounce.
Global stocks, euro survive first battle of U.S.-China trade war
LONDON (Reuters) - Stocks rose and the euro climbed to a three-week peak as the imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday, though concerns about the conflict escalating capped appetite for risk.
U.S. stock futures dip as U.S.-China tariffs kick in; jobs data awaited
(Reuters) - U.S. stock index futures dipped on Friday after the United States and China slapped tit-for-tat duties on $34 billion worth of each other's imports, triggering what Beijing called the "largest-scale trade war."
Banas Finance updates directorship records
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Curb on enthusiasm: Singapore property measures hit developers, investors
SINGAPORE (Reuters) - Singapore's surprise move to intensify property curbs marks the strongest cooling measures in the island nation in five years, putting a damper on a nascent resurgence in the housing market and posing risks to developers' margins.